Blacks Leisure issues profit warning November 25, 2011 outdoor goods retailer Blacks Leisure said it expected full-year results to be below expectations after trading conditions weakened further in the last few weeks. “The group is experiencing lower than expected sales and has been taking action to manage margins in order to drive sales,” it said. Blacks reiterated that it required additional funding. It [...]
FTSE seesaws lower on banks and retailers December 21, 2011 BRITAIN’S top share index fell back after a volatile session yesterday, swinging back from early strong gains in low volumes, with banks seeing gains eroded, although Lloyds was boosted by a broker double upgrade. At the close, the FTSE 100 index was down 29.86 points, or 0.6 per cent at 5,389.74, reversing a chunk of [...]
FTSE seesaws lower on banks and retailers December 21, 2011 BRITAIN’S top share index fell back after a volatile session yesterday, swinging back from early strong gains in low volumes, with banks seeing gains eroded, although Lloyds was boosted by a broker double upgrade. At the close, the FTSE 100 index was down 29.86 points, or 0.6 per cent at 5,389.74, reversing a chunk of [...]
Banks warn that Vickers has underestimated cost of reform December 1, 2011 ROYAL Bank of Scotland and Santander reckon the official cost estimate of the Vickers reforms are too low, according to documents published yesterday by the House of Lords. The Independent Commission on Banking’s estimate that the changes it proposed in September to avoid another banking bailout will cost the industry between £4bn and £7bn “are [...]
Banks warn that Vickers has underestimated cost of reform December 1, 2011 ROYAL Bank of Scotland and Santander reckon the official cost estimate of the Vickers reforms are too low, according to documents published yesterday by the House of Lords. The Independent Commission on Banking’s estimate that the changes it proposed in September to avoid another banking bailout will cost the industry between £4bn and £7bn “are [...]
Blacks to be put up for sale December 7, 2011 Blacks Leisure plans to put itself up for sale after the struggling outdoor retailer failed to raise enough funds to carry on the business. The retailer had issued a profit warning last month in the run-up to Christmas, after the retailer in October said it was evaluating all kinds of funding options. “The directors do [...]
Blacks to be put up for sale December 7, 2011 Blacks Leisure plans to put itself up for sale after the struggling outdoor retailer failed to raise enough funds to carry on the business. The retailer had issued a profit warning last month in the run-up to Christmas, after the retailer in October said it was evaluating all kinds of funding options. “The directors do [...]
StanChart faces uphill challenge May 15, 2012 BANKS have been facing a pretty hilly time of late, with arguably more downs than ups. But Standard Chartered has added a few more mountains to its obstacle course. The British bank has joined forces with Bermondsey’s Salmon Youth Centre to take on the Three Peaks Challenge, a bumper hike which involves climbing the highest [...]
Banks fuel FTSE gains after Lloyds upgrade December 21, 2011 Banks led London’s blue chip index up in early trading – tracking gains in Wall Street and Asia. Exane BNP Paribas upgraded Lloyds to trigger a rise in the sector which has had a torrid year with the Eurozone debt crisis taking its toll. Lloyds was up 4.3 per cent as Exane BNP Paribas upgraded [...]
RBS dragged down by poor management says FSA December 12, 2011 Royal Bank of Scotland gambled with its purchase of Dutch bank ABN Amro and was dragged to the brink of collapse three years ago by poor management decisions and flawed regulation and supervision, a report said on Monday. The long awaited report by Britain’s Financial Services Authority, running to 452 pages, criticised former Chancellor and [...]